News Releases

Professor Roger Hosein Proposes Strategies for Economic Recovery at Inaugural Professorial Lecture

For Release Upon Receipt - May 7, 2025

St. Augustine


Professor Roger Hosein delivers his inaugural professorial lecture, Fostering Economic Growth in the Bust Phase of the Boom-Bust Cycle, on April 24, 2025, at the Learning Resource Centre (LRC) Auditorium, The UWI St. Augustine.

FROM CRAB CATCHER TO CALCULATIONS GENIUS  

The UWI St. Augustine, (May 7, 2025) – Often featured in the media sharing his insights on national economic trends, Professor Roger Hosein intrigued his audience at his recent Professorial Inaugural Lecture titled “Fostering Economic Growth in the Bust Phase of the Boom-Bust Cycle”. The lecture was hosted by The University of the West Indies (The UWI) St. Augustine Campus on Thursday, April 24, 2025, at the Learning Resource Centre Auditorium.

One of the most memorable moments of the evening was Professor Hosein’s personal success story, his unconventional path from dropping out of high school and selling crabs and eggs at the market, to graduating with First Class Honours from The UWI and earning a Ph.D. in Economics from Cambridge University in 2000. In 2024, he was named The UWI’s Best Researcher, in recognition of his continued academic excellence and impactful scholarship.

Addressing a diverse audience of policymakers, academics, business leaders and students, Professor Roger Hosein, economist and Co-ordinator of The UWI’s Trade and Economic Development Unit (TEDU), examined Trinidad and Tobago’s economic vulnerabilities and proposed bold, research-driven strategies for diversification and sustainable development. His lecture, “Fostering Economic Growth in the Bust Phase of the Boom-Bust Cycle,” framed the nation’s economic challenges within a global context and called for a shift from reactive fiscal policies to long-term planning and innovation in non-energy sectors such as agriculture, food exports and tourism.

“The challenge in the economy is really the structure of production, and if we take an approach that expands manufacturing, agriculture, services, those are areas that help to open up employment opportunities,” Professor Hosein asserted. “Employment in the petroleum sector is about 8,100 compared to about 23,000 around 2013. In other words, the employment in the petroleum sector has fallen considerably… Whatever we are doing must generate an opportunity for more fiscal revenue, must lower the non-energy fiscal balance.” 

Professor Roger Hosein receives an official token of appreciation from Professor Derek Chadee, Deputy Principal of The UWI St. Augustine

He also emphasised the need for port and customs modernization and at least a 50% reduction in crime for the economy and by extension the nation to prosper. On tourism, he noted that Trinidad and Tobago currently receives fewer than 400,000 visitors annually and that visitor exports in 2023 were US$0.6BN according to the Central Statistical Office. He explained that massive forex gains are possible with improved safety, airlift, marketing and product diversification.

“I’ve worked out in order to reach 50% of revenues from the energy sector…into the medium term maintaining the average expenditure that CSO says we had in 2023, we need to reach 2.6 million tourists by 2040. If we could get a timeline so we could get all the other infrastructure in place, we have a fighting chance in terms of tourism revenue” proposed Professor Hosein.

Professor Hosein also presented data-driven analyses on trade performance, productivity trends, and the role of regional integration in economic resilience. He underscored the importance of evidence-based policymaking and greater collaboration between academia and government in shaping the country’s economic agenda. A former captain of the Faculty of Social Science’s cricket team, Professor Hosein used creative sports comparisons, including the West Indies cricket team and the Argentine football team to illustrate various stages of economic growth and recovery, instilling hope for a stronger economic future for Trinidad and Tobago.

(L–R): Professor Duraisamy Saravanakumar, Director of Graduate Studies and Research; Deputy Principal, Professor Derek Chadee; Professor Roger Hosein; Dr. Acolla Lewis-Cameron, Dean of the Faculty of Social Sciences; and Professor Shirin Haque, Chair of the Open Lectures Committee

Dean of the Faculty of Social Sciences, Dr Acolla Lewis-Cameron, lauded Professor Hosein’s contributions to academia, policymaking, and regional development, she noted:

 “Professor Hosein has not only exemplified academic excellence, winning over 20 scholarships and awards, but has also shaped the future of Caribbean economics by supervising the highest number of PhD students in the Department of Economics. His work has directly influenced national policy, regional development initiatives and the strengthening of institutions. His career embodies leadership, service, and a deep commitment to the Caribbean’s advancement.” 

Professor Hosein’s career spans leadership in academia, regional trade policy, and economic development. He currently serves as a CARICOM Commissioner and has represented The UWI at the Council for Trade and Economic Development (COTED) since 2010. He played a key role in developing initiatives such as the Government Assistance for Tuition Expenses (GATE) programme and compensation mechanisms for fishermen affected by seismic surveys. He was instrumental in founding two key regional microfinance institutions, the Mayaro Initiative for Private Enterprise Development (MIPED) and the Loan for Enterprise and Network Development (LEND), and served as a director on the Board of the Central Bank of Trinidad and Tobago.

Professor Roger Hosein with former Campus Principal, Dr. Bhoendradatt Tewarie, and Professor Shirin Haque, Chair of the Open Lectures Committee

Professor Derek Chadee, Deputy Principal congratulated Professor Hosein on his elevation to the rank of Professor and praised his impact on national dialogue:

“He has been an integral member of the Department of Economics contributing significantly to teaching, research, outreach and advocacy. The rank of Professorship is not simply a title, it symbolizes scholarly authority, leadership in one’s field and significant influence of one’s contribution at the national regional and international level.”

During the question-and-answer session, Dr Indera Sagewan-Alli, fellow economist and researcher joined other attendees in congratulating Professor Hosein and expressed her admiration for his inspiring journey to success.

The event reflected The UWI’s ongoing commitment to academic excellence and public engagement. Through its Professorial Inaugural Lectures, the University offers newly appointed Professors a platform to share the relevance and impact of their work with the wider community. Chair of the Open Lectures Committee, Professor Shirin Haque, underscored this mission, noting, “These lectures are vital platforms to showcase academic excellence, engage the national community, and influence regional policy-making.” 

The full recording of Professor Hosein’s lecture is available on The UWI St. Augustine YouTube channel: https://www.youtube.com/watch?v=qvm8qb7hjxE&t=2674s

Professor Roger Hosein shares a proud moment with his family 

END

About The University of the West Indies

The University of the West Indies (The UWI) is the Caribbean’s premier higher education institution and one of only two regional universities in the world. With five campuses across the English-speaking Caribbean and global centres in partnership with universities in North America, Latin America, Asia, Africa, and Europe, The UWI continues to be a beacon of academic excellence, research innovation, and societal impact. Consistently ranked among the world’s best by Times Higher Education (THE), The UWI is a global leader in addressing critical challenges, including climate change, sustainability, and development.

 As The UWI St. Augustine Campus celebrates its 65th anniversary in 2025 under the theme Beyond 65: From the Caribbean, For the World, it pays tribute to its Caribbean roots while highlighting its contributions to solving global challenges. This milestone underscores the campus's significant role in producing ground-breaking research and fostering talent that transcends regional boundaries to shape a better world. The UWI St. Augustine’s researchers, academics, and graduates continue to make an international impact, exemplifying the university’s mission to serve the region while influencing the world.

Learn more at www.uwi.edu 

 

Contact